Anthony Pompliano : “No Need to Apologize for Bitcoin’s Energy Usage”
Appearing on CNBC’s Squawk Box this week, businessman and Bitcoin influencer Anthony Pompliano, also known as “Pomp” said that there is no need to “apologize for Bitcoin’s energy usage, since “crucial things in the world use energy.”
In the interview with Joe Kernen, Pomp reiterated that people just do not (want) to ‘get it’. They are missing “key points” in the “climate argument” against the Bitcoin (BTC) network. Something especially valid when comparing the top cryptocurrency to fiat currencies like the U.S. dollar. Pompliano said:
“There is a linear relationship between energy consumption and the dollar system, to support more users and more transactions, we need to consume more energy, more data centers, more bank branches, more ATMs.”
The founder of Morgan Creek Digital added:
“Bitcoin blockchain does not have this same linear relationship with energy consumption, that is because regardless of the number of transactions per block, there is the same energy consumed by each block. As Bitcoin scales, it will become more efficient because you will be able to add more economic value to each of these blocks.”
“As it scales, #bitcoin because more and more efficient because you can pack more economic value into each one of those blocks. In the legacy system as you scale you need to consume more energy … we shouldn’t apologize for the use of energy,” @APompliano on #btc energy use. pic.twitter.com/gFSMFz3ApU
— Squawk Box (@SquawkCNBC) December 27, 2021
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The discussion on Bitcoin’s carbon footprint is not something new and pops up often when those who oppose the cryptocurrency are trying to make their point. Claims that Bitcoin would be bad for our environment have been debunked numerous times while Bitcoin miners are pledging to operate “carbon neutral”.
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Source: igaming
